A talk given to Junior Chamber Ireland on the University of Limerick and it's role in economic development.

1. BUY LIMERICK.
Stephen Kinsella, UL

2. LIMERICK, 1860'S.

3. LIMERICK, 1960

4. LIMERICK, TODAY.

5. THEORY OF URBAN
DEVELOPMENT
• From Jane Jacobs to Edward Nell to Paul Romer.
• From Copenhagen's finger model to the hub and spoke
development process.
• Theory of infrastructure

6. THE LOGIC OF POST WAR
IDA LED DEVELOPMENT
• Multinationals have skills and money and expertise
• We do not.
• Give them subsidies and cheap labour and they will come.
• Export led growth is the answer.
• And it WAS.

7. TODAY
• Economy experiencing growth *only* in export led sectors.
• But these sectors are not labour intensive.
• So this is a jobless recovery.
• Also, GDP figures need to be taken with a barrel of salt.

8. WHAT DOES THIS MEAN FOR
LIMERICK?
• We can't and we shouldn't rely on Krups/Dell/Ferenka/etc
tonprovide the mainstay of our jobs.
• Butwe will not experience any consumption growth (and
hence demand for products leading to investment) for some
years.
• Thisimplies asset prices will fall. This implies the economy will
stagnate and the city will die.

9. THE LOGIC OF KEYNESIAN
INTERVENTION
• Business
cycles mean that at the very moment households
firms and banks *should* be spending, they can't.
• So the government has to.
• Thisis inefficient and most certainly second best. But it's the
best we can do.

10. APPLICATION TO LIMERICK
• UL is the biggest entity in the area.
• UL is a corporation.
• Corporations can borrow.
• UL is part of Limerick.
• Ul is never leaving Limerick.

11. FIGHT THE DONUT.
• Donut population and
price differential between
exterior and interior of
the city.
Centre
• Role of feedbacks here as
well.

12. GLOSSES.
• Tax breaks for helping beautify the city.
• Price changes helping change architecture and art.
• Competiton and experimentation.
• Limerick as the city of change not the city of sport.
• Aninteresting place with a world class university not just at it's
doorstep but in it's heart.